Occidental Petroleum Co. (NYSE:OXY) Shares Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,356 shares of the oil and gas producer’s stock after buying an additional 809 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Occidental Petroleum were worth $413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its position in Occidental Petroleum by 11.5% during the second quarter. AQR Capital Management LLC now owns 80,581 shares of the oil and gas producer’s stock worth $5,077,000 after purchasing an additional 8,327 shares during the last quarter. Ascent Group LLC increased its holdings in shares of Occidental Petroleum by 4.7% during the 2nd quarter. Ascent Group LLC now owns 8,067 shares of the oil and gas producer’s stock worth $508,000 after buying an additional 365 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Occidental Petroleum during the 2nd quarter valued at approximately $110,000. Gordian Capital Singapore Pte Ltd grew its position in Occidental Petroleum by 300,000.0% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 6,002 shares of the oil and gas producer’s stock worth $378,000 after acquiring an additional 6,000 shares during the period. Finally, Heritage Wealth Management Inc. acquired a new stake in Occidental Petroleum during the second quarter worth $418,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc purchased 2,477,362 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $46.25 per share, with a total value of $114,577,992.50. Following the completion of the transaction, the insider now directly owns 257,758,886 shares in the company, valued at approximately $11,921,348,477.50. The trade was a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $48.91 on Thursday. The stock has a market cap of $45.89 billion, a P/E ratio of 12.74 and a beta of 1.57. The company has a fifty day simple moving average of $49.63 and a 200-day simple moving average of $52.84. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum Co. has a 12-month low of $45.17 and a 12-month high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th were issued a $0.22 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.80%. Occidental Petroleum’s payout ratio is currently 22.92%.

Analyst Ratings Changes

OXY has been the subject of a number of research analyst reports. Truist Financial increased their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Wolfe Research increased their target price on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Raymond James lifted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Finally, UBS Group lowered their price target on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.19.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.